Pareto improving price regulation when the asset market is incomplete: an example

P.J.J. Herings*, H.M. Polemarchakis

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

Abstract

In a robust example of an economy with an incomplete asset market, price regulation, that operates anonymously, on market variables, can be Pareto-improving.

Original languageEnglish
Pages (from-to)139-147
Number of pages9
JournalInternational Journal of Economic Theory
Volume8
Issue number2
DOIs
Publication statusPublished - Jun 2012

Keywords

  • incomplete asset market
  • fix-price equilibria
  • Pareto improvement
  • D45
  • D52
  • D60
  • IDENTIFICATION

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